Taking control of your 401(k)

If your employer offers a 401(k) or similar plan, you’ve got a powerful retirement-savings tool at your disposal. And yet, how well you do with your 401(k) depends greatly on your choices and actions. What steps can you take to maximize the benefits of your plan?

For starters, be aware that your 401(k) may come with what might be called “standard” features, which you should review to determine their applicability to your situation. These features include the following:

Default deferral rate